Crist signs gambling bill allowing compact with Seminole Tribe - Tampa Bay Business Journal:

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The deal guarantees the state gets a minimumk paymentof $150 million a year of casino profitd in exchange for the right to operate certainm games such as baccarat, chemin de fer and blackjac k in the tribe’s seven gambling facilities, including the Seminoled Hard Rock Casino in Tampa. The agreement must be ratifie by the Florida Legislature and agreed to by the In addition tothe $150 million, the Tribde is required to make revenue-sharint payments to the statde based on the following annualp amounts: 2 percent of profits up to $2.5 15 percent of profits between $2.5 billionh and $3 billion. 20 percent of profite between $3 billion and $4 22.
5 percent of profits between $4 billiob and 4.5 billion. 25 perceng of any profits above $4.5 billion. The agreementt also requires the Seminole Tribe of Florida to develo p a compulsive gamblingprevention program, submirt records to an independent annual financial audit and maintai a legal process for compensating individualss for injuries caused to patrons. The deal replacew an earlier one that Crist inkecd with the Tribe in 2007 but was overturned by the aftef it found the governor had oversteppe d his authority by failing to involve the Crist noted that federal law governsthe Tribe, and the federao government is likely to allowa the Tribe to operate those games if the Legislatur does not go alongf with the agreement.